BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

Solutions

Chapter
Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 2, Problem 4DQ
Textbook Problem
1 views

Roughly speaking, what fraction of U.S. labor works in factories? In service businesses? In government?

To determine

The fraction of American labor force working in factories, service businesses, and government sector.

Explanation of Solution

The American labor force very large in which 9% work in manufacturing, 15% in government, and 71% in the service sector and 5% produce other goods.

The manufacturing sector employs 12 million people out of which one-third work in offices that imply only two-third work in factories.

So, out of 9% percent work in manufacturing, two-third works in factories that imply 6% work in factories in the manufacturing sector...

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Textbook Solutions

Find more solutions based on key concepts
Show solutions add
In what ways is economics a science?

Essentials of Economics (MindTap Course List)

Economic Why would any party agree to a covenant not to sue?

The Legal Environment of Business: Text and Cases (MindTap Course List)

Differentiate between ROE and ROIC.

Fundamentals of Financial Management, Concise Edition (MindTap Course List)

Financial statements are based on generally accepted accounting principles (GAAP) and are audited by CPA firms....

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

What factors affects the choice of sales promotion used?

Foundations of Business (MindTap Course List)

What is Form 944?

PAYROLL ACCT.,2019 ED.(LL)-TEXT